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Microcap & Penny Stocks : Cinema Rides (MOVE) -- Ignore unavailable to you. Want to Upgrade?

To: Candle stick who wrote (74)	5/29/1998 2:08:00 PM
From: Candle stick	Respond to of 75

Cinema Ride Announces Reverse Stock Split STUDIO CITY, Calif.--(BUSINESS WIRE)--May 29, 1998--Cinema Ride Inc. (OTC:MOVE) Friday announced that a 1-for-8 reverse stock split of its outstanding common stock will become effective as of 5 p.m. EDT on May 29, 1998. The reverse split is in response to Nasdaq's new minimum listing requirements which include a minimum bid price of $1 per share. Mitch Francis, president and CEO of Cinema Ride, said: "Although we have already been delisted from the Nasdaq Small Cap Market, we are hopeful that in another review this summer by Nasdaq we can evidence how close we are to meeting all of their new criteria and that they will reconsider the delisting. Cinema Ride remains on track to achieve many of its business plan goals, with continued improving operational performance." Cinema Ride develops, owns and operates motion simulation theater attractions at leading destination tourist sites in the United States and Canada. The company's 15-seat motion simulation capsules feature six-axis, military-quality flight simulator hardware that is computer-programmed to move in concert with action viewed on a motion picture screen. The Cinema Ride facilities are the first to feature 3-D ride films. Their library includes such titles as "Atlantis Submarine Race," "Runaway Coasters," "Haunted Graveyard Run" and "Warren Miller's Ski Ride." -0- NOTE: Except for the historical information herein, the statements made in this release constitute forward-looking statements that involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements and the other risks detailed from time to time in the company's reports on file at the Securities & Exchange Commission. --30--SJK/la* LES/la CONTACT: Cinema Ride Inc., Studio City Mitch Francis/Roger Bassil, 818/761-1002 To edit your profile, go to keyword NewsProfiles. For all of today's news, go to keyword News